A lot of the EH McKinsey consultants just got as much as a $40k surprise reduction in expected compensation.

It's unsure if this was a mistake or an intentional decision, but if you're a T2/BB recruiter looking for experienced consultants to poach, now would be an excellent time.

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Wouldn't most of the experienced hires have come from other consultancies anyway? I feel like the people who finally made it into MBB from tier 2, not to mention big 4 or Accenture, wouldn't go back because of one year of bad bonuses, especially if the same reasons for the low bonuses impacted their former employer.

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Nuance of "most" vs "a lot". Both can be true at the same time when you talk of large numbers of people, but in this case, I think the proportion matters more than having a minority with a high gross headcount.

That is unless there's a claim that most consulting experienced hires are from outside of consulting, which would be news to me.

Maybe they can get a job in tech

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It’s a common theme in IB too this year. Bulge brackets are planning to hand out $0 bonuses to some bankers in the expectation that some of these folks will voluntarily attrite

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What's EH?
And how does the reduction work? Smaller bonuses?

Is work slowing down there or something? Getting affected by the interest rates/recession?

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Lol same even here. EH, hit with a big total comp reduction from 2023! Wtf!

What is the point of posting this here instead of in the company bowl?

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